Total revenue for the six months under review was
Total revenue for the quarter was
The bank has maintained a collective provision of
The balance sheet has continued to grow with total assets increasing to
The bank's capital adequacy ratio currently stands at 42.1pc compared to the regulatory minimum of 12pc, and fiduciary assets under management stand at
Board member and chief executive Abdullatif Janahi also highlighted the eight consecutive quarters of positive results and stressed that the bank was moving forward with renewed strength and confidence.
"We have built particular expertise in healthcare, agribusiness, oil and gas, shipping, plus yielding real estate; and in the more economically and politically stable markets of the Mena region in addition to
Mr Janahi also said that the board and executive management had just concluded an extended strategy workshop in
"The strategic workshop and the positive results and successful recent offerings are testimony to the bank's high standards of performance and the effectiveness of its investment strategy.
"The bank will continue to target improvements in revenue growth and operating costs whilst maintaining adequate liquidity to build a solid base for sustained profitability and thus generate good returns for shareholders and investors.
"Our investor base has been very supportive and we are confident that VCBank will continue to build on this excellent performance into the future by continuing to adapt and capitalise on changes and opportunities in the market," he added.
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